(04-07-2023 01:59 PM)boss man Wrote:  

(04-07-2023 12:59 PM)CrimsonPhantom Wrote:  

A sampling of the Twitter comments:

On one side, they are accumulating material wealth - oil, gas, coal, gold etc. On the other side, they're printing increasingly worthless paper. . .Who to side with?

This is only the start. There is only so much foreign countries will watch America implode before abandoning ship.

When dictators who wear Depends sit in power, the world laughs.

Wow it's like the rest of the world realizes that Biden's woke policies are a sign of America's weakness on the world stage and that we're not to be taken seriously anymore.

Petrodollar hegemony is over, US had a good run, expect much bread and circus as the karma sets in.

Watching US foreign policy implode all across the board is quite the sight to behold, it´s amateur-hour squared.

All we have to do is turn the Fossil Fuels spigots back on! Inflation goes away and Saudi Arabia will continue working with us.

We’re looking at a train wreck of a president and an administration driving America into the ground, not only at home but also the world.

US deep state hates peace…thrives on chaos.

Why is the CIA director doing things like this?

To be fair, the Ruble and yaun are also just bits of worthless paper as well. A fiat currency only has value because a given nation's army says it has value. Right now, I think a lot of nations believe the Chinese and Russians are more likely to defend their paper currency with armies than the US is. Thats why you're seeing nations with few choices and nations with interests that may run counter to the US look at diversifying into non-dollar currencies. In some cases---they dont have a choice---and in some cases---they are just hedging their bets as they arent sure how invested the US remains in their own Rules Based Order when it gets challenged. Cant blame them. We ran in Afghanistan and look pretty darn timid in Ukraine. China is no doubt watching---as are the nations of the Middle East---who frankly have little in common with the US culturally.

What does Saudi Arabia know about money anyway? I mean, can they even afford to hire the best risk management teams out there? They are probably using some kind of “ancient desert folklore” to make their financial decisions and I doubt that they have any way to know if the future outlook of the dollar they relied on for decades had changed.